Pilgrim's Pride Q2 Earnings Collapse: Net Income Down 96%, U.S. Segment Swings to Loss
PPC is trading near its 52-week low of $26.5 (11% above the low).
Summary
Pilgrim's Pride Q2 net income collapsed 96% to $13.2M as weak chicken prices and massive litigation costs crushed margins. The U.S. segment swung to an operating loss.
Key Events · Earnings and Guidance · PPC
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Q2 Net Income Collapses 96%
Net income attributable to Pilgrim's Pride fell to $13.4M from $355.5M a year ago, with GAAP EPS of $0.06 missing expectations. Revenue slipped 2.8% to $4.63B.
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U.S. Segment Swings to Operating Loss
The U.S. segment posted an operating loss of $11.1M compared to a $355.0M profit in Q2 2025, driven by lower chicken prices and a 55% surge in SG&A expenses tied to legal costs.
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Litigation Costs Drain Earnings
Litigation settlements consumed $155.4M in H1 2026, with total broiler antitrust costs reaching $838.5M. The company continues to defend against opt-out plaintiffs and seek settlements.
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Asset Impairments and Restructuring
The company recorded $22.3M in asset impairment charges for the closure of a Chattanooga plant and equipment replacement in Russellville, AL. Europe restructuring charges added $8.7M.
Analysis · PPC · Manufacturing
Pilgrim's Pride's Q2 2026 results reveal a severe earnings collapse. Net income plunged 96% to just $13.2 million, driven by a 25% drop in commodity chicken prices and a staggering $135.7 million in litigation settlements. The U.S. segment, the company's core, swung from a $355 million profit to an $11 million operating loss. SG&A costs ballooned 55% in the U.S. as legal defense costs mounted. The company has now spent $838.5 million on broiler antitrust litigation, with no end in sight. While the new European credit facility provides liquidity, the near-term earnings power of the business is severely impaired, and the litigation overhang continues to drain cash.
How filings like this one have moved
In the 30 days to Sep 12, 2026, 35.5% of the 1531 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.19%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PPC was trading at $29.51 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $7.1B. The 52-week trading range was $26.50 to $50.56. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.